Economic Organization: The Case For Candor

Oliver E. Williamson

350 citations0/0 files storedAcademy of Management Review

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Law, Economics, and Judicial Systems Economic Theory and Institutions Outsourcing and Supply Chain Management

Abstract

The article reports on transitional cost economics (TCE) and opportunism in business. The author focuses on discussing the economic theory of industrial organization. It is suggested that research related to self-interest and cognitive styles is especially useful when considering aspects of organizational behavior. It is further suggested that TCE and industrial efficiency are connected to one another. The author discusses the strengths and weaknesses present in many professional contracts. Prediction methods are also examined.

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References

1987The Economic Institutions of Capitalism 1976Markets and Hierarchies: Analysis and Antitrust Implications.2019American Economic Review 1986The Economic Institutions of Capitalism 1979Transaction-Cost Economics: The Governance of Contractual Relations 1989Competing Technologies, Increasing Returns, and Lock-In by Historical Events 1991Comparative Economic Organization: The Analysis of Discrete Structural Alternatives 1996The Use of Knowledge in Society

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